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Multifamily Loans in
Dothan, AL

Overview

Dothan is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Dothan are considered greater risk due to market dynamics. Interest rates for multifamily loans in Dothan are higher than the national average. Dothan apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Dothan.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Dothan, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Dothan are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Dothan may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Dothan, AL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Dothan.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Dothan Market

The city of Dothan in Houston County has a population of 68,941. The median rent in Houston County for a 2 bedroom is $753. The median Dothan resident is 40 years old with a yearly income of $25,581. The average family has 3.26 members and a median household income of $47,081. Dothan has a 26% higher education rate. The unemployment rate in Dothan is 7.2%.


Population
68,941 people

County
Houston County

Renters

40.8% of Dothan households are renters.


Rent Burden

31% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Houston County 1
Alabama 2
National 2
Studio $579 $580 $737
1 bedroom $583 $626 $813
2 bedroom $753 $767 $1,015
3 bedroom $985 $1,004 $1,325
4 bedroom $1,128 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Dothan Demographics


Median Individual Income
$25,581 / year

Median Household Income
$47,081 / year

Families w/ Dual Incomes
41%

Unemployment Rate
7.2%
Household Income Distribution
Dothan, AL

Median Age
40 years

Avg Family Size
3.26 people
Age Distribution
Dothan, AL

College Education or Above
26%

STEM College Graduates
40%
Education Distribution
Dothan, AL
Source: U.S. Census Bureau

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